Avance Gas Holding Ltd: Successfully completed the sale of Iris Glory
16 Gennaio 2024 - 9:41AM
Avance Gas Holding Ltd: Successfully completed the sale of Iris
Glory
Hamilton, Bermuda
January 16, 2024
Avance Gas Holding Ltd. («Avance Gas» or «Company») (OSE: AGAS)
announce today the successful completion of the 2008-built VLGC
Iris Glory at a cash consideration of $60 million less ordinary
broker commission of one percent as previously announced in a press
release dated 6 July 2023. The vessel completed her two-year
Time Charter with IOC at end of November 2023. Subsequent to
completion of this Time Charter, Iris Glory also carried out a
single spot voyage at a net Time Charter Equivalent (TCE)
result of $3 million prior to delivery of the vessel to the new
owners. The Company will record a book gain on sale of
approximately $21 million and net cash proceeds following repayment
of the lease financing of approximately $26 million for the first
quarter 2024.
Additionally, and as previously announced in January 2024, the
Company expect to complete the sale of the last 2008-built VLGC,
Venus Glory, within March 2024 after completion of her current spot
voyage. Venus Glory is sold for a gross cash consideration of $66
million less ordinary broker commission of one percent thereby an
estimated gain on sale of approximately $27 million and a net cash
release of approximately $40 million is expected to be recorded for
the first quarter 2024 in addition to the sale of Iris Glory.
For further queries, please contact: Media contact: Øystein
Kalleklev, CEO Tel: +47 23 11 40 00 Investor and Analyst contact:
Randi Navdal Bekkelund, CFO Tel: +47 23 11 40 00 ABOUT AVANCE GAS
Avance Gas operates in the global market for transportation of
liquefied petroleum gas (LPG). The Company is one of the
world's leading owners and operators of very large gas
carriers (VLGCs) and owns nineteen LPG ships consisting of thirteen
VLGCs on water today, the two dual fuel LPG VLGCs for delivery and
resale in 2024 and four dual fuel MGCs for delivery in 2025
and 2026. For more information about Avance Gas, please visit
www.avancegas.com
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
Grafico Azioni Avance Gas (TG:A07)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Avance Gas (TG:A07)
Storico
Da Dic 2023 a Dic 2024